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What you need to know about SRRV

(For interested applicants, let me help you make it hassle free, email me for assistance at: gigibonquin@gmail.com)

Special Resident Retiree's Visa
Benefits | 
 

Starting May 05, 2011, more SRRV options will be made available for you to choose from on how to Retire in the Philippines through theSRRV Products.

You can choose from the SRRV SMILE, the SRRV CLASSIC, SRRV HUMAN TOUCH, and the SRRV COURTESY. 
Please refer to the table below for the requirements and the qualifications for each program Kindly coordinate with PRA thru email add inquiry@pra.gov.ph for complete details on the requirements for each SRRV option.

IMPLEMENTING DETAILS OF PRA PRODUCTS

(As of May 05, 2011)

         
REQUIREMENTS SRRV SMILE SRRV CLASSIC SRRV HUMAN TOUCH SRRV COURTESY
         
1. Age and Visa Deposit
  1. 35 Years Old & Above - US$20,000.00
NOTE: Additional Visa deposit - US$15,000.00 per dependent in excess of two (2).
  1. 35 - 49 Years Old - US$50,000.00
  2. 50 Years Old & Above:
  • Without Pension - US$20,000.00
  • With Pension - US$10,000.00

NOTE: Additional Visa deposit - US$15,000.00 per dependent in excess of two (2).

Show proof of monthly pension remitted to the Philippines (US$800.00 for single applicant and US$1,000.00 for married couples)*
  1. 35 years old & above = US$10,000.00
NOTE: 
Retiree must:
  • Be shown to have a pre-existing condition (except contagious diseases) and in need of medical care and services.
  • Show proof of monthly pension remitted to the Philippines equal to at least US$1,500.00.
  1. 35 Years Old and above for Former Filipino citizens = US$1,500.00
  2. 50 Years Old and above for Ambassadors / Retired Diplomats who served in the Philippines = US$1,500.00

NOTE: Additional Visa deposit - US$15,000.00 per dependent in excess of two (2) except for Former Filipinos.
         
2. Convertibility of Deposits
  1. LOCKED-IN in the bank.
  • Inconvertible into investment.
  • Intended for end of term needs and obligations of retiree.
  • Withdrawable upon cancellation of SRR Visa.
  1. May be converted into investments.
  2. Total amount of Investment must be at least US$50,000.00 for conversion to be allowed.
NOTE: For investment in condominium or long-term lease of House and Lot, units must be Ready For Occupancy.
  1. Same conditions prescribed under SMILE enrolment program.
  1. May be converted into investments.
NOTE: For investment in condominium or long-term lease of House and Lot, units must be Ready For Occupancy.
         
3. Application Fees
  1. US$1,400.00 for the Principal
  2. US$300.00 for each Spouse/Dependent
NOTE: One-time payment only.
  1. US$1,400.00 for the Principal
  2. US$300.00 for each Spouse/Dependent
NOTE: One-time payment only.
  1. US$1,400.00 for the Principal
  2. US$300.00 for each Spouse or Dependent
NOTE: One-time payment only.
  1. US$1,400.00 for the Principal
  2. US$300.00 for each Spouse/Dependent
NOTE: One-time payment only.
         
4. Monetary Obligation/s
  1. US$360.00 Annual PRA Fee (APF) for Principal, Spouse, and (1) Childupon enrollment and every year thereafter.
  2. US$100.00 for each dependent in excess of two (2).
  1. US$360.00 Annual PRA Fee (APF) for Principal, Spouse, and (1) Childupon enrollment and every year thereafter.
  2. US$100.00 for each dependent in excess of two (2).
NOTE: Previous fees, i.e. Visitorial Fee, Harmonization Fee & Management Fee are deemed waived.
  1. US$360.00 Annual PRA Fee (APF) upon enrollment and every year thereafter.
NOTE: To cover one (1) dependent only.		 1. US$10.00 Annual PRA Fee (APF).
         
5. Depository Bank
  1. PRA Designated Banks
  1. PRA Designated Banks
  1. PRA Designated Banks
  1. PRA Designated Banks
         
6. Bank Account Name 1. PRA  1. PRA  1. PRA  1. PRA 
         
7. Documentary Requirements
  1. Duly accomplished SRRV Application Form.
  2. Original Passport with Valid Entry Visa
  3. Medical Examination Clearance
  4. Police Clearance and National Bureau of Investigation (NBI) Clearance
  5. ID Pictures - twelve (12) pieces of 2"x2"
  6. Additional Proof of Relationship for joining SPOUSE / CHILD.
NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
  1. Duly accomplished SRRV Application Form.
  2. Original Passport with Valid Entry Visa
  3. Medical Examination Clearance
  4. Police Clearance and National Bureau of Investigation (NBI) Clearance
  5. ID Pictures - twelve (12) pieces of 2"x2"
  6. Additional Proof of Relationship for joining SPOUSE / CHILD.
  7. Pension Documents*
NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
  1. Duly accomplished SRRV Application Form.
  2. Original Passport with Valid Entry Visa
  3. Medical Examination Clearance
  4. Police Clearance and National Bureau of Investigation (NBI) Clearance
  5. ID Pictures - twelve (12) pieces of 2"x2"
  6. Health Insurance Policy
  7. Pension Documents
  8. Additional Proof of Relationship for joining SPOUSE / CHILD.
NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
  1. Duly accomplished SRRV Application Form.
  2. Original Passport with Valid Entry Visa
  3. Medical Examination Clearance
  4. Police Clearance and National Bureau of Investigation (NBI) Clearance
  5. ID Pictures - twelve (12) pieces of 2"x2"
  6. Additional Proof of Relationship for joining SPOUSE / CHILD.
NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
         
8. Payor 1. Principal Retiree or his Authorized Representative. 1. Principal Retiree or his Authorized Representative. 1. Principal Retiree or his Authorized Representative.  
         

* With Pension Scheme